Business

MOBILTEL PRICES DOWN BECAUSE OF GLOBUL

At least 10% reduction of the service tariffs considers the management of the Bulgarian GSM-operator - `MobilTel` from early-September. The reasons for that are the emergence of the new GSM operator `Globul` on the market and the marketing strategy of the

Business | August 27, 2001, Monday // 00:00 | Viewed: 343

NEW LAW WILL ALLOW FOREIGNERS TO BUY LAND

A new law will be adopted by the National Assembly that will allow foreign citizens to buy land in Bulgaria, Meglena Kuneva, head of Bulgaria’s team for EU accession talks said. The expected result from that is an influx of investments to the capital and

Business | August 27, 2001, Monday // 00:00 | Viewed: 672

NEW BANK STARTS OCTOBER 1

A new ProCredit Bank will be formally opened on October 1. ProCredit has already filed all the documents required for the issuance of a banking license, and has deposited the whole amount of the initial capital of BGN 12 million, ProCredit sources announc

Business | August 26, 2001, Sunday // 00:00 | Viewed: 496

BUSINESS IN BRIEF

Kremikovtzi`s debt to the Burgas port reached BGN 6 million. Some 2 million tonnes of metal supplies for Kremikovtzi per year pass through the Burgas port.

Business | August 26, 2001, Sunday // 00:00 | Viewed: 426

BIA WITH INVESTMENT EXCHANGE WEB PLANS

The Bulgarian Industrial Association /BIA/ web site will be turned into an Internet based exchange for investment projects in South Eastern Europe in the beginning of Septembe. In this electronic exchange, the investing companies will present their projec

Business | August 26, 2001, Sunday // 00:00 | Viewed: 367

VASSILEV INVITED TURKISH BUSINESS TO BULGARIA

Economy Minister Vassilev, his deputies Lyubka Kachakova and Dimitar Hadjinikolov met with Turkish media and with representatives of leading Turkish banks and firms. Vasilev is in Turkey to participate in the 70th anniversary of the International Fair in

Business | August 26, 2001, Sunday // 00:00 | Viewed: 446

ELECTRICITY PRICES MIGHT GO UP AGAIN

The new chief of the State Energy Agency Milko Kovachev said that the October planned increase in the electricity price might not be the last for the following twelve months, wrote Dnevnik Daily. No concrete figures were mentioned.

Business | August 25, 2001, Saturday // 00:00 | Viewed: 392

BALKAN LIQUIDATION NOT A PENDING OPTION

The Tokuda Financial Group knows what Balkan Airline liabilities are and is not currently considering possible liquidation of the company. Only in the case that creditors refuse to vote for rehabilitation, liquidation will be considered as an option.

Business | August 24, 2001, Friday // 00:00 | Viewed: 384

3 CANDIDATES FOR BURGAS PORT SUPPLIERS

Austrian Veurf Alpin, Krupp Sumatomo and Mitsubishi Corporation are the three companies that are eligible after the screening procedure for the Terminal 2A and the Eastern wharf equipment of the Burgas port. The Ministry of Transport and Communications wi

Business | August 24, 2001, Friday // 00:00 | Viewed: 465

INVESTOR IN 3 MAJOR BULGARIAN ENTERPRISES FAKE

The Dutch investor, Helian Commodities that acquired majority stakes in Large Bulgarian Mills, the Kambana vegetable oil plant and the Polski Trambezh-based plant can’t be found in the international registers, the Confederation of Independent Trade Unions

Business | August 24, 2001, Friday // 00:00 | Viewed: 549

BUSINESS IN BRIEF

The initial data from the audit, made by Deloitte & Touche show that the state does not owe any money to GORUBSO-Madan. The urgent measures to resolve the situation at GORUBSO were initiated after 10 miners went on a hunger strike, claiming the immediate

Business | August 24, 2001, Friday // 00:00 | Viewed: 520

BUSINESS REPS SUPPORT THE NEW ECONOMIC APPROACH

Representatives of the Bulgarian Industrial Association /BIA/, the Bulgarian Chamber of Commerce and Industry, the Employer’s Union and the Bulgarian International Business Association supported the economic package of the Government. The new economic mea

Business | August 24, 2001, Friday // 00:00 | Viewed: 364

CUSTOMS OFFICIALS SEIZE 11 KG HEROIN

Customs officials seized 11kg 900,000 worth heroin at the Kalotina checkpoint on the Bulgarian border with Yugoslavia.The smuggler, Y.

Business | August 24, 2001, Friday // 00:00 | Viewed: 363

4 RELIGIONS TO TAKE PART AT SE EUROPE CONFERENCE

Eastern Orthodoxy, Judaism, Islam and Catholicism representatives will participate in a forum on changing the educational policy in the Balkans in Sofia from September 8 to September 10.The conference is part of an initiative of the Ecumenical Patriarch B

Business | August 24, 2001, Friday // 00:00 | Viewed: 401

15% INCREASE IN EXCISES ON CARS AND CIGARETTES

The Finance Minister Velchev and experts from the Ministry discussed the option to increase the excises on cars and cigarettes by 15%. The car excise has not been raised since 1988 and the 15% growth was covered by the inflation rate.

Business | August 24, 2001, Friday // 00:00 | Viewed: 369

PROJECT FOR LOW INTEREST CREDITS TO BE LAUNCHED

The Ministry of Labor and Social Affairs prepared a draft for the establishment of a BGN 20 MLN micro crediting guarantee fund, Lidia Shuleva, Social Minister and Deputy Minister announced. The project is primarily for unemployed who want to start private

Business | August 24, 2001, Friday // 00:00 | Viewed: 510

STATE SALES LAND FOR COMPENSATORY VOUCHERS

Ministry of Agriculture announced it will start selling state-owned arable land in the regions of Rousse, Targovishte and Sofia against registered compensatory vouchers. A total of 32.

Business | August 24, 2001, Friday // 00:00 | Viewed: 542

SET UP OF A NEW BSC MARKET SEGMENT DELAYED

Lack of enough details on the project for a new market segment of the Bulgarian Stock Exchange delayed its establishment. This new segment will allow over-the-counter deals still controlled by BSC.

Business | August 23, 2001, Thursday // 00:00 | Viewed: 376

YEAST MANUFACTURER SUES THE MINISTRY OF FINANCE

The yeast manufacturer Hlebna Maya from Rousse filed a claim for USD 3M against the Ministry of Finance and the former finance minister Muravei Radev. According to the claim, the ministry did not comply with an order of the ministry of economy.

Business | August 23, 2001, Thursday // 00:00 | Viewed: 860

EXPECTED RISE OF WATER PRICES IN 2002

Drinking water prices may go up next year because the national water supply system needs fundamental upgrade, Ivan Saev, deputy minister of regional development said. Now 57% of the water is lost in leakages.

Business | August 23, 2001, Thursday // 00:00 | Viewed: 490

BUSINESS IN BRIEF

Foreign currency reserve was reduced to EUR 3.465 billion, i.

Business | August 23, 2001, Thursday // 00:00 | Viewed: 507
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria